NOTE: Today's FREE Edition is a FULL release same as the Basic Edition which is available only to PAID members. This is being released to FREE members as I am introducing 2 NEW features to my Daily Update releases so everyone can see how it works. Future FREE editions will continue as normal and are NOT guaranteed to be released everyday. They are released as time permits.
BREXIT WEEK WARNING!
This is of course the Brexit week. Unless you have been living under a rock, you would know this. And you should know that during this week leading up to the Brexit vote, much of the markets will all be in much turmoil. will be increased this week as many if not most banks and institutions are or have moved into "safe havens". This is why we saw Yen get stronger last week. These same banks and institutions will not be doing much trading this week to preserve their capital exposure to the unpredictable markets. Therefore, we will see lower volumes and therefore higher . So if you are taking trades this week, I would suggest lower exposure as well. Especially in the Sterling and Euro currencies. Trading in other markets would be safer. And I would HIGHLY, HIGHLY suggest in the STRONGEST words possible that you DO NOT try to trade through the Brexit unless you have a LARGE bankroll and a HUGE appetite for risk! The Brexit results not matter which way it goes may very well have a similar effect to when the Swissy was freed from the Euro and prices fell over 1800 pips in ONE DAY! That turned millions in profits to million in losses overnight for many investors who did not exercise caution! Anyway, this is just my early warning and I will have more on this in the next days leading up to the vote as scheduled.
USDJPY - NEUTRAL
Exactly as shown from yesterday's chart to today's updated chart, prices have fallen back to near the lows. I am expecting that it will break and go down more and make new lows before a rebound. Read my update recently posted: (F) USDJPY: Revisting "The Fall". Is It About To Come To An End? (Free post. No Subscription required.)
4HR CHARTS - (yesterday vs. today)
AUDUSD - SHORT
From yesterday's chart to today's, you can see that prices gapped up on the week's market open and have yet to fill that gap. I am expecting it to fill the gap today and head lower. Read my FULL MONTHLY Analysis for more details: (F) AUDUSD FULL Monthly Analysis: Setting Up To Move Higher
4HR CHARTS - (yesterday vs. today)
USDCAD - NEUTRAL
From yesterday's chart to toady, notice that there is a significant change in my overall outlook in that I now do not think that prices will head as low as I though it would before. In yesterday's chart on the left, you can see I was still projecting prices to go as low as to fill a POTENTIAL . I know do not believe it will get even close to that low before heading higher again. The change in my count is that now that strong move up we saw in the past days is a wave 1 of the large wave (c) of the overall wave (B) corrective wave. This current move down should be a 3-wave wave 2 of (c). And that wave 2 should not go below the start of the wave 1 of (c). If it does, then my count is obviously wrong.
4HR CHARTS - (yesterday vs. today)
I am constantly trying to find ways to make this service better and easier to use. To that objective, I have added 2 new features that may help you to better understand the charts and quickly know where we stand in each pairing:
Next to each pair, there will now be a STATUS on it. Either LONG, SHORT or NEUTRAL. This will reflect our current stance on that pair.
Each pair will now have CONTINUOUS charting with yesterday's chart included alongside today's updated chart. This way you can see the progression of our projections and better judge for yourself whether our projections are worth following along with and also to more easliy see any changes in projections and wave counts we may have from day-to-day.
HOWEVER, these new features will only be available on the PREMIUM and the BASIC Daily updates and will not be part of the FREE Edition except on a case-by-case basis.
Update Release Schedule
This is the FREE Weekly Wrapup & Update that is released every week to ALL registered and subscribed members. If you are not a subscriber, you will not receive the detailed Daily Updates that follow this Weekly Update. This Weekly update DOES NOT try to predict the movement for this next week. It only is intended to summarize the past week and try to predict the next DAYS action.
The Daily Wrapup & Updates will have three editions: a Free edition, a Basic Edition (for Basic Package Subscribers) and a Premium Edition.
Free editions will include coverage on the Basic pairs that I cover. Basic Edition will have same as Free Edition but with Subscriber-only detailed charts and Premium edition will also include markets that I cover for paid Premium subscribers. EFXSelect reserves the right to change or rescind this and any freely available resources at anytime without prior notice.
This Daily Wrapup & Updates will be published daily from Monday- Thursday. There is not any Friday Edition as that will be included in the Weekly Wrapup & Update release. (all dates/times are based on EST or GMT -4).
Daily and Weekly Wrapup & Updates are just a brief overview on what the markets have done and what I think MAY happen in the near-term. These are not comprehensive analysis on the markets. So please use them as such. Markets can change rapidly. If you want to be updated on the latest changes, consider subscribing in order to receive comprehensive updates and analysis.
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
THINK before you comment! It takes MUCH work and time to create these posts! So before you decide to criticize me for what I post, or how I choose to post, remember that I don't just throw a chart up with a few lines on it with a few arrows showing 2 possible directions and that's it. I can do those in 5 mins. My charts take MUCH effort and I put much detail into creating them for your benefit. I hope it helps but I also hope it's appreciated!
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